please write a body paragraph of formal business letter that above provided. choose information from journal and clear the doubt of miss chovi with accurate clarification

please write a body paragraph of formal business letter to clear the doubt of chovi by using above journal or their adjustment entries and also make a different subheadings in it for more clarification.

Unadjusted Trial Balance As at 30 June 2020 Credit (Si Scoats Accumulated Depreciation - Scuba tanks Ole Shop Equipment Accumulated Depreciation Office and Shop Equipment 2019 A Chovl Caps A Chov Brawings On the following page is additional information that Anne has provided to you in relation to the year ended 30 June 2020. Apcal stocktake of entry at the 2020 revealed $44 320 en hand h $5,200 of the recorded sales represents receipts for soba tanks which will not be delivered t 2020 The great was done 2010 and we thoice for sending 2030 by the brother 512 wronun 2020 which had been directed the ba The accounting record need to be updated for this transaction M i s estimated that of the 30 June 2020 balance of Accounts Receivable is to be received Anne had relied on word of mouth to promote her business to date however Anne decided to advertise her business and products in a p r esta tie Anne d 3.000 at the end of February for the advertising came to commence on the 1" of March 2030 for a month period v) Sales staff wages owing but not paidat balance day equal $1.334 viitoth the substanks and Office & Shop tuiment are expected to be used evenly over their useful lives The expected total useful lives and residual values of both assets are as follows Useful life Residual Valve Scuba tanks 10 years After the meeting, the Managing Partner tells you she is extremely busy with several clients at the moment and asks you to prepare a letter to Miss Chovi which covers the points listed below. REQUIRED: Please write a letter in your own words addressed to Miss Chovi explaining the following: Miss Chovi is confused by the fact that the Scuba tanks she uses in the diving courses are listed separately in the Trial Balance to those scuba tanks she has in the shop for sale (which are included in the inventory balance). Using the appropriate elementdefinition, apply the facts provided and explain to Miss Chovi what element both inventory and the separate account Scuba tanks are recorded as *(element = Asset, Liability, Equity, Income or Expense) (12 marks) UV ILIPOIIJIUIC TOI PICUUI18 LIL CUI CIU DUC DUY RUJUJICIIL JUULUI IU JUUUU DI Scooba Dive Inc. Unadjusted Trial Balance As at 30 June 2020 Credit ($) Debit ($) 4,800 28,800 34,400 1,440 12,800 2,580 3,200 1,580 25,800 46,400 10,000 Cash Accounts Receivable Inventory (1 July 2019) Prepaid Rent Scuba tanks Accumulated Depreciation - Scuba tanks Office & Shop Equipment Accumulated Depreciation - Office and Shop Equipment Accounts Payable A Chovi, Capital (1 July 2019) A Chovi, Drawings Sales Sales Returns & Allowances Discount Allowed Purchases Interest Revenue Electricity Expense Water Expense Sales Staff Wages Local Government Rates Expense Insurance Expense Advertising Expense Rent Expense 166,240 1,800 320 112,160 1,720 960 16,000 640 4,800 3,000 6,480 Totals 243,320 243,320 i) A physical stocktake of inventory at 30th June 2020 revealed $44,320 on hand. $5,200 of the recorded sales represents receipts for scuba tanks which will not be delivered until 7th July 2020 iii) The prepaid rent was paid on 1 June 2020 and was Shop/Office rent for two months ending 31 July 2020. iv) Upon receipt of the business's bank statement, Anne realised that the business bank account had earned $12 interest on 30 June 2020 which had been directly paid into the bank account by the bank on that day. The accounting records need to be updated for this transaction. v) it is estimated that 2% of the 30 June 2020 balance of Accounts Receivable is unlikely to be received. vi) Anne had relied on word of mouth to promote her business to date however Anne decided to advertise her business and products in a popular lifestyle magazine. Anne paid $3,000 at the end of February for the advertising campaign to commence on the 1st of March 2020 for a six-month period. vii) Sales staff wages owing but not paid as at balance day equal $1,334. viii) Both the Scuba tanks and Office & Shop Equipment are expected to be used evenly over their useful lives. The expected total useful lives and residual values of both assets are as follows: Useful life Residual Value Scuba tanks 10 years Office & Shop Equipment 2 years After the meeting, the Managing Partner tells you she is extremely busy with several clients at the moment and asks you to prepare a letter to Miss Chovi which covers the points listed below. REQUIRED: Please write a letter in your own words addressed to Miss Chovi explaining the following: Miss Chovi is confused by the fact that the Scuba tanks she uses in the diving courses are listed separately in the Trial Balance to those scuba tanks she has in the shop for sale (which are included in the inventory balance). Using the appropriate element* definition, apply the facts provided and explain to Miss Chovi what element* both inventory and the separate account Scuba tanks are recorded as. "element = Asset, Liability, Equity, Income or Expense) (12 marks) Unadjusted Trial Balance As at 30 June 2020 Credit (Si Scoats Accumulated Depreciation - Scuba tanks Ole Shop Equipment Accumulated Depreciation Office and Shop Equipment 2019 A Chovl Caps A Chov Brawings On the following page is additional information that Anne has provided to you in relation to the year ended 30 June 2020. Apcal stocktake of entry at the 2020 revealed $44 320 en hand h $5,200 of the recorded sales represents receipts for soba tanks which will not be delivered t 2020 The great was done 2010 and we thoice for sending 2030 by the brother 512 wronun 2020 which had been directed the ba The accounting record need to be updated for this transaction M i s estimated that of the 30 June 2020 balance of Accounts Receivable is to be received Anne had relied on word of mouth to promote her business to date however Anne decided to advertise her business and products in a p r esta tie Anne d 3.000 at the end of February for the advertising came to commence on the 1" of March 2030 for a month period v) Sales staff wages owing but not paidat balance day equal $1.334 viitoth the substanks and Office & Shop tuiment are expected to be used evenly over their useful lives The expected total useful lives and residual values of both assets are as follows Useful life Residual Valve Scuba tanks 10 years After the meeting, the Managing Partner tells you she is extremely busy with several clients at the moment and asks you to prepare a letter to Miss Chovi which covers the points listed below. REQUIRED: Please write a letter in your own words addressed to Miss Chovi explaining the following: Miss Chovi is confused by the fact that the Scuba tanks she uses in the diving courses are listed separately in the Trial Balance to those scuba tanks she has in the shop for sale (which are included in the inventory balance). Using the appropriate elementdefinition, apply the facts provided and explain to Miss Chovi what element both inventory and the separate account Scuba tanks are recorded as *(element = Asset, Liability, Equity, Income or Expense) (12 marks) UV ILIPOIIJIUIC TOI PICUUI18 LIL CUI CIU DUC DUY RUJUJICIIL JUULUI IU JUUUU DI Scooba Dive Inc. Unadjusted Trial Balance As at 30 June 2020 Credit ($) Debit ($) 4,800 28,800 34,400 1,440 12,800 2,580 3,200 1,580 25,800 46,400 10,000 Cash Accounts Receivable Inventory (1 July 2019) Prepaid Rent Scuba tanks Accumulated Depreciation - Scuba tanks Office & Shop Equipment Accumulated Depreciation - Office and Shop Equipment Accounts Payable A Chovi, Capital (1 July 2019) A Chovi, Drawings Sales Sales Returns & Allowances Discount Allowed Purchases Interest Revenue Electricity Expense Water Expense Sales Staff Wages Local Government Rates Expense Insurance Expense Advertising Expense Rent Expense 166,240 1,800 320 112,160 1,720 960 16,000 640 4,800 3,000 6,480 Totals 243,320 243,320 i) A physical stocktake of inventory at 30th June 2020 revealed $44,320 on hand. $5,200 of the recorded sales represents receipts for scuba tanks which will not be delivered until 7th July 2020 iii) The prepaid rent was paid on 1 June 2020 and was Shop/Office rent for two months ending 31 July 2020. iv) Upon receipt of the business's bank statement, Anne realised that the business bank account had earned $12 interest on 30 June 2020 which had been directly paid into the bank account by the bank on that day. The accounting records need to be updated for this transaction. v) it is estimated that 2% of the 30 June 2020 balance of Accounts Receivable is unlikely to be received. vi) Anne had relied on word of mouth to promote her business to date however Anne decided to advertise her business and products in a popular lifestyle magazine. Anne paid $3,000 at the end of February for the advertising campaign to commence on the 1st of March 2020 for a six-month period. vii) Sales staff wages owing but not paid as at balance day equal $1,334. viii) Both the Scuba tanks and Office & Shop Equipment are expected to be used evenly over their useful lives. The expected total useful lives and residual values of both assets are as follows: Useful life Residual Value Scuba tanks 10 years Office & Shop Equipment 2 years After the meeting, the Managing Partner tells you she is extremely busy with several clients at the moment and asks you to prepare a letter to Miss Chovi which covers the points listed below. REQUIRED: Please write a letter in your own words addressed to Miss Chovi explaining the following: Miss Chovi is confused by the fact that the Scuba tanks she uses in the diving courses are listed separately in the Trial Balance to those scuba tanks she has in the shop for sale (which are included in the inventory balance). Using the appropriate element* definition, apply the facts provided and explain to Miss Chovi what element* both inventory and the separate account Scuba tanks are recorded as. "element = Asset, Liability, Equity, Income or Expense) (12 marks)